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OMV Petrom confirms progress in 2030 strategy towards a greener future and higher dividends for shareholders

OMV Petrom, the largest integrated energy producer in Southeastern Europe, continues to develop its activities and products in line with Strategy 2030, aimed at contributing to a lower carbon future. The company’s strategic ambition remains unchanged: to lead the energy transition in Southeast Europe through three key directions: the transition to low-carbon and zero-carbon, growing regional gas and optimizing traditional activities. To support the implementation of Strategy 2030, OMV Petrom plans to invest EUR 11 billion between 2022 and 2030.

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Strategy 2030 enables OMV Petrom to achieve key milestones:

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  • Development of the largest natural gas source in the EU.
  • Development of the largest portfolio of new sustainable energy projects in Romania.
  • Major investments in decarbonising transport, including renewable fuels and electric vehicle charging networks.

Christina Verchere, Chief Executive Officer of OMV Petrom, said: “We remain committed to our 2030 transformation strategy for a low-carbon future, while making some important adjustments: a faster deployment of renewables, a more ambitious e-mobility target and progressing our Neptun Deep offshore gas project, on track for first gas in 2027. With rigorous capital discipline and solid financial performance, we aim to increase dividend payments as we are highly competitive against our peers.”

The strategy also focuses on:

  1. Transition to low and zero carbonOMV Petrom plans to invest approximately EUR 3.7 billion in low-carbon and zero-carbon projects between 2022 and 2030, with the aim that these projects will contribute significantly to Clean CCS EBIT by 2030.
  2. Grow regional gas: With over 40 years of experience in the Black Sea, OMV Petrom focuses on offshore activities in Romania and Bulgaria. The Neptun Deep project is a cornerstone aimed at increasing Romania’s energy independence and economic growth, with the aim of first gas production in 2027.
  3. Optimize traditional business operationsThe company aims to maintain operational excellence in the exploration and production, refining and marketing, and gas and energy sectors, while reducing the share of capital expenditure allocated to traditional assets to approximately 45% by 2030.

Financially, OMV Petrom aims to achieve a higher total return on invested capital of approximately 15% and an EBIT target of more than EUR 1.5 billion by 2030. The company plans to distribute approximately 50% of its operating cash flows as dividends , indicating robust returns for shareholders.

In terms of environmental objectives, OMV Petrom aims to achieve carbon neutrality of its operations by 2050, with specific targets to reduce the emissions intensity of its operations by 2030, supported by investments in carbon capture and storage technologies.

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